IFP Advisors Inc increased its stake in shares of Prologis, Inc. (NYSE:PLD – Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,432 shares of the real estate investment trust’s stock after acquiring an additional 150 shares during the quarter. IFP Advisors Inc’s holdings in Prologis were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management grew its position in Prologis by 637.1% during the 1st quarter. Activest Wealth Management now owns 258 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 223 shares during the last quarter. Pandora Wealth Inc. bought a new position in Prologis during the 1st quarter worth approximately $34,000. GKV Capital Management Co. Inc. bought a new position in Prologis during the 1st quarter worth approximately $34,000. Saudi Central Bank bought a new position in Prologis during the 1st quarter worth approximately $41,000. Finally, Olde Wealth Management LLC bought a new position in Prologis during the 1st quarter worth approximately $43,000. 93.50% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
PLD has been the topic of a number of recent analyst reports. Mizuho set a $118.00 price objective on Prologis and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. Wells Fargo & Company set a $137.00 price objective on Prologis and gave the stock an “overweight” rating in a research report on Sunday, July 13th. Evercore ISI lifted their price objective on Prologis from $111.00 to $113.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Citigroup cut their price objective on Prologis from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Finally, Bank of America upgraded Prologis from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $118.00 to $130.00 in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.58.
Insiders Place Their Bets
In other Prologis news, CAO Lori A. Palazzolo sold 25,000 shares of Prologis stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $111.33, for a total transaction of $2,783,250.00. Following the completion of the transaction, the chief accounting officer owned 414 shares in the company, valued at approximately $46,090.62. The trade was a 98.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Cristina Gabriela Bita sold 1,000 shares of Prologis stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $111.00, for a total value of $111,000.00. Following the transaction, the director owned 9,829 shares of the company’s stock, valued at $1,091,019. The trade was a 9.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock valued at $2,952,095 in the last quarter. 0.57% of the stock is owned by company insiders.
Prologis Trading Up 2.4%
PLD opened at $115.44 on Wednesday. The stock has a market cap of $107.20 billion, a PE ratio of 31.28, a PEG ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average of $112.11 and a 200-day moving average of $107.80. Prologis, Inc. has a 52 week low of $85.35 and a 52 week high of $127.65.
Prologis (NYSE:PLD – Get Free Report) last released its earnings results on Wednesday, July 16th. The real estate investment trust reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.05. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Prologis had a return on equity of 5.96% and a net margin of 40.29%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.34 EPS. Equities research analysts predict that Prologis, Inc. will post 5.73 earnings per share for the current fiscal year.
Prologis Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, September 16th. This represents a $4.04 dividend on an annualized basis and a yield of 3.5%. Prologis’s payout ratio is presently 109.49%.
Prologis Company Profile
Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.
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